More about Marissa Blundell
Blog Posts by Marissa Blundell:
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Fannie Mae Updates Selling Guide
On October 2, 2018, Fannie Mae made the following updates to its Selling Guide: Outsourcing of Mortgage Processing and Third-Party Originations, Employment-Related Assets as Qualifying Income, and more.
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Interpretive and Procedural HMDA Rule Issued by Bureau of Consumer Financial Protection
On August 31, 2018, just in time for the unofficial end of summer marked by this Labor Day weekend, the Bureau has provided additional information related to the impact of regulatory relief measures on 2018 HMDA reporting requirements. To recap, legislation took effect in the late spring which provided a partial exemption for reporting of […]
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Bureau of Consumer Financial Protection issues HMDA statement
On July 5, 2018, the Bureau of Consumer Financial Protection (Bureau) announced its intention to provide further guidance later this summer on the applicability of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) to data collected in 2018 pursuant to the Home Mortgage Disclosure Act (HMDA).
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U.S. House Passes Senate Regulatory Relief Package
On Tuesday, May 22, 2018, the United States House of Representatives passed the Senate-approved regulatory relief bill (S.2155) without amending same. The measure now heads to the executive branch for signing, which is expected. Although measures to amend the Senate’s bill were likely to pass in the House, the fate of an amended regulatory relief bill in the Senate was uncertain.
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CFPB Publishes Final Rule Amending TRID
On April 26, 2018, the Consumer Financial Protection Bureau (CFPB) published a final rule adopting changes proposed in 2017. The new rule takes effect 30 days after publication of the final rule in the Federal Register.
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MPF Program Origination and Underwriting Updates for MPF Direct
On March 20, 2018, The Mortgage Partnership Finance Program announced origination and underwriting updates for its MPF Direct program. Specifically, changes were made to Direct Select QM, Select 90 QM, and Choice QM guidelines. These changes are effective immediately.
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Senate Passes Economic Growth, Regulatory Relief and Consumer Protection Act
On March 14, 2018, the Senate passed a bill which impacts several areas covered by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill is expected to be considered by the U.S. House of Representatives, and, if passed by the House and signed by the President, would become law.
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Fannie Mae Updates Selling Guide
On February 27, 2018, Fannie Mae updated its Selling Guide.
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HMDA 2018 “Getting it Right!” Guide Released
Last week, the 2018 edition of A Guide to HMDA Reporting: Getting it Right! (the Guide) was released. This edition of the Guide is effective for the 2018 calendar year data, to be submitted by March 1, 2019.
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U.S. House of Representatives Approves New Rules for TRID and Mortgage Loan Originators
The House has passed a Mortgage Bankers Association-supported bill that amends the TILA/RESPA Integrated Disclosure rule, and supports flexibility for mortgage loan originators.